Jen Miller made $1,090 this week. Only social security (fully taxable) and federal income taxes attach...

Jen Miller made $1,090 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Miller contributes $125 each week to her company's 401(k) plan and has $40 put into her health savings account (nonqualified) each week. Her employer matches this $40 each week.

Determine Miller's take-home pay if she is married and claims 2 allowances (use the wage-bracket method).

Enter deductions beginning with a minus sign (-).

Click here to access the Wage-Bracket Method Tables.

Gross pay	$
HSA contributions
401(k) deductions
OASDI tax
HI tax
FIT
Net pay

Solutions

Expert Solution

Computation of Jen Miller's Net take Home Pay
Detail	Amount	Remark
Gross Pay	$1,090.00
Add
HAS Contribution	$40.00
401(K) Deduction	$125.00
Total	$1,255.00
Less:
OASDI Tax	$68.13	6.25 % * $1090
HI Tax	$15.81	1.45 % * $1090
FIT	$109.00	10% * $1090

Net Pay	$1,062.07

ekkarill92 answered 2 years ago

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